... Coercive惩罚 Predicated on fear源于对某种后果的惧怕 Reward奖励 ...
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predicated on fear
基于恐惧
以上为机器翻译结果，长、整句建议使用 人工翻译 。
This fear is predicated on the (correct) belief inflation is always and everywhere a monetary phenomenon combined with the misunderstanding of recent Fed policy.
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